Insurance Australia Group Limited announced that it has finalized its catastrophe reinsurance program for the period commencing January 1, 2012 with up to A$4.7 billion [US$4.86 billion] in coverage, compared to A$4.1 billion [US$4.24 billion] in 2011. “Our reinsurance program …
An analysis from Willis Re, the reinsurance broking arm of Willis Group Holdings, notes that the majority of this year’s catastrophe losses arose “from un-modeled or inadequately modeled perils or territories.” As a result reinsurers “are being more forceful in …
In his first year as insurance commissioner of Oklahoma, John Doak has been a busy man. Doak and the agency he leads have had their hands full implementing reforms in the workers’ compensation system, dealing with a host of natural …
Swiss Re describes 2011 as the “year with the highest catastrophe-related economic losses in history, at $350 billion.” It could have been the most costly year ever for the insurance industry, if Japan had been more fully insured. The figures …
The Aon Benfield Analytics’ Market Analysis team has published the latest edition of its Aon Benfield Aggregate (ABA) report, which assesses the financial performance of 28 of the world’s leading reinsurers in the first nine months of 2011, and examines …
Aon Benfield’s Monthly Cat Recap report, which reviews the natural disaster perils that occurred worldwide during November, concludes that insured losses in Thailand could top $10 billion, while floods in Europe will exceed $1 billion. The report, published by Impact …
When flood waters rose in Thailand, Wal-Mart stores in Japan ran out of mouthwash. “We were out of mouthwash in Japan for about four days,” Scott Price, Wal-Mart’s Asia chief executive officer, said at the APEC business leaders’ summit. “A …
An article on the Lloyd’s website takes a look at the “insurance and reinsurance specialists,” who “converge in Baden-Baden to begin their ‘renewal season’ discussions in earnest and in preparation for January 1, when deals between primary insurers and their …
Despite the ever increasing severity and frequency of natural catastrophes, “insuring public entities in affected countries is becoming simpler due to the emergence of new parametric trigger insurance” according to Steve Jackson, CEO Latin America of international broker Cooper Gay. …
Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corp, has released the latest edition of its Monthly Cat Recap report, which reviews the natural disaster perils that occurred worldwide during September. Published by Impact Forecasting, the firm’s …
